Following our blog friend’s post on Shanghai volume , I want to share with you my family’s stories in China’s stock market. My mom has been in the market since I was in the secondary school. She lost half of her capital after more than 10 year’s investment. Up to two years ago, she was still struggling. However, since this year, every night when I talk to my mom, she will tell me how much more she could have earned if she had hold the stock longer, or had bought more. She put all our family savings into it now.
And one of our relatives, an 80 year old lady, frugal for her whole life, put all her money in the stock market too. She does not know how to use computer or internet. So she keeps calling my mom to help her excute the trade.
Yes, it is this scary! And I just can not persuade my mom to take the money out of the market. No way she will believe me when she sees the stock price going up so fast every day. Sometimes, I want to make up some emergency stories to ask her for moeny, because that’s maybe the only way to ask her to get some of her money out of that market. But I will feel guilty if I lie. Very difficult situation 😦